Players in the GNSS Service Sector and attractiveness for Financial Markets 12 June, 2008 Rainer Horn Managing Partner SpaceTec Capital Partners AG Perchtinger Str. 5 D Munich Phone:

1 About SpaceTec Capital Partners OUR COMPANY: Independent partnership backed by private investors, based in Munich Investing private equity in application companies Creating deals and investment opportunities Consulting entrepreneurs, application industry, institutions OUR FOCUS : Satellite Information Business - the interface between information and satellite technology

2 SpaceTec is focusing on Satellite Information Business Remote Sensing GeoData Navigation Communi- cation Satellite Information Business Integrated Applications in... Traffic Mobility Security Climate Logistics Environment Risk Telematics Resources... SpaceTec Activity Scope IT Process automation Climate forecast from past data Geo data bases Forest fire detection Identification of water and resources Vehicle blackbox Automated surveillance of buildings Tele medicine Traffic Data Analysis Examples Automation of public duties Damage assessment Internet Software Hardware Source: SpaceTec Capital Partners AG

3 Innovation in IT is enabling integrated space applications Information & Communication Technologies (ICT) Satellite Technologies Integrated Applications e.g. Performance and value for money (Processors, memory, battery, displays) Availability of broadband Internet as trusted channel ebay, Amazon,… Internet business processes Security standards Intuitive user interfaces (ipod, touch screens) Web 2.0 – user generated contents (Youtube, Wikipedia) Complimentary technologies (Cell-ID, WiFi, etc.) Additional Satellite capacity with improved performance ~ 50 SatNav ~ 20 Earth observation Active technology transfer by space agencies Mass market mobilisation (Google Earth, TomTom) New markets through public investments into security, natural hazards prevention, environment and climate protection, etc. TomTom MapShare Harley-Davidson Great Roads Explorer Harvest forecasting Natural hazard prevention and mitigation Climatic forecasts on the basis of historic weather data Automated surveillance Integrated traffic management Source: SpaceTec Capital Partners AG

4 Integrated applications are targeted by many players Anwendungen SOFTWARE INFRASTRUCTURE USER HARDWARE CONTENT ThalesAlenia Microsoft Garmin Google EADS OHB Nokia TomTom Septentrio Tele Atlas NAVTEQ T-Systems Teledata Telespazio Infoterra Ascos/ Axio-net T-Mobile Falk FaceBook Leica Novatel Android Vodafone WindowsLive Land Surveying Agencies APPLICATIONS Boeing Lockheed Geodata DVD Toll-Collect Siemens Strategic Activities Nintendo Sony/Ericson Gps Phone Magellan Multimap Rough Guide Nokia OVI MapShare OrbComm Navigon MerianScout RideFinder Transit Yahoo Trimble INTEGRATED APPLICATIONS Environmental monitoring Traffic coordination Forest fire early warning Automated surveillance Google Maps Google Earth Blackberry ESRI Palimsest Trendanalyser Via Michelin Source: SpaceTec Capital Partners AG GAF ORACLE Orange NokiaMaps Apple Ordnance Survey AND Penguin Travel Skyhook Gypsi WeatherBug i-phone DigitalGlobe SpotImage Cell-ID database Vexel Yellow Pages IQMaps Jentro Cell-ID TrafficInfo ZagatOnline

5 Private Equity helps spin-offs and start-ups Key Data Revolutionary software to display 3D geo data on the internet Spin–off from Intrinsic Graphics (3D graphics specialist) in 2001 Location: Mountain View, CA, USA 2004: TradeSale / Renaming to... Start - UpSeedExpansionLater Stage 2001 Business Angels Sony CVC NVIDIA Business Angels In–Q –Tel (CIA Fund) Exit Profit Loss Financing History & Exit Developers of GPS microchips und modules 1997: Foundation as spin-off from ETH Zurich 1998: First GPS chip in SMD technology 2000: Erster GPS chip in mobile telephony 2004: Indoor GPS technology 2005: GPS chip with 40% less power consumption Revenue 2006: 54 MCHF, 13% EBIT, 53 Empl., Thalwil (CH) Valuation: 217 Mio Start - UpSeedExpansionLater Stage Profit Loss 1997 Parker Group und ZKB 3i MBO IPO 2001 Start-up formed in Berlin in 1999 as Gate5 GmbH Leading provider for software and services for LBS and information on mobile devices 2000 Winner of the E-economy award 2004: additional financing round 6,5 MN Trade-sale to Nokia and renaming to smart2Go/NokiaMaps Start - UpSeedExpansionLater Stage Profit Loss Brandenburg Capital IBB Innoven Partners Target Partners Brandenburg Capital IBB Exit USA CH D

6 Source: EVCA, Goldman Sachs; STCP Analysis Investors believe in the Satellite Information Business Combined Stock Valuation in Merger in May 08: > 5.6 BN NASDAQ GNSS Index* Index comparison GNSS / NASDAQ *Publically traded GNSS /Digital map companies Source: GSA, Google Finance 40x 23x 14x 21x 16x Achieved Earnings multiples in 2006 after IPOs in 2005